U.S. Markets close in 5 hrs 18 mins

Alcoa: 1Q Earnings Snapshot

PITTSBURGH (AP) _ Alcoa Corp. (AA) on Wednesday reported a first-quarter loss of $199 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Pittsburgh-based company said it had a loss of $1.07. Losses, adjusted for one-time gains and costs, came to 23 cents per share.

The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 17 cents per share.

The bauxite, alumina and aluminum products company posted revenue of $2.72 billion in the period, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $2.73 billion.

Alcoa shares have risen slightly more than 4 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 16 percent. In the final minutes of trading on Wednesday, shares hit $27.72, a decrease of 51 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AA at https://www.zacks.com/ap/AA